SONM – Sonoma Financial Corporation (was VMAX) Message Board

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Microcap & Penny Stocks : SONM – Sonoma Financial Corporation (was VMAX)

SONM 5.720

-22.5%

Nov 25 3:57 PM EST

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To: MonteChristo who wrote ()	7/21/1999 3:15:00 PM
From: MonteChristo	Read Replies (1) of 205

Sonoma Financial Corp./VictorMaxx Technologies, Inc. Report Record 1998 Results CHICAGO--(BUSINESS WIRE)--July 19, 1999--Sonoma Financial Corporation/VictorMaxx Technologies, Inc. (OTCBB: VMAX - news) today announced unaudited results for fiscal 1998. The Company reported revenues of approximately $1.6 million and a Loss of $289 thousand. VictorMaxx Technologies Inc. discontinued operations after year ending December 1996 with revenues of $750,000 and a Loss of $3 million; the Company had no operations in 1997 until merging with Sonoma Financial Corp. VictorMaxx went public in June of 1995 as a developer of virtual reality ''head gear'', by the end of 1996 the company had accumulated approximately $20 million in losses. The company's investor information can be viewed at virtualir.com Sonoma Financial and VictorMaxx Technologies completed a merger in 1997 at which point Sonoma's management assumed control of the Company. Sonoma was a holding company managing several small growth companies in numerous industries. The Company quickly identified the success of one such company in the financial services industry, providing short term consumer loans commonly referred to as ''Payday Advances''. The Company spent 1998 focusing the majority of its resources on the growth and development of Payday Check Advance Inc. Management also divested itself of the other business entities and operations to grow the lucrative consumer lending subsidiary. As a result the Company was forced to liquidate several small companies below market valuations, causing the Company to show a loss for the year. Sonoma Financial Corporation/VictorMaxx Technologies, Inc. Year End Financial Highlights (In thousands) 1998(unaudited) 1997(unaudited) 1996(unaudited) Revenues $1,594 $0 $750 Net Income ($289) $0 ($3,015) ''It was a sound business decision to liquidate our portfolio of growth companies to further finance the opportunity of Payday Check Advance Inc. Sonoma Financial Corp. has a sole focus on developing a national chain of 'payday advance' stores in the years to come'', said Frank Anthony Contaldo, CEO.

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